Q2 2024 Unacemcorp SAA Earnings Call Transcript
Key Points
- Consolidated EBITDA increased by 6.3% year-over-year, reaching PEN389 million.
- Top line posted a 7% increase with revenues reaching PEN1.7 billion.
- Strong performance in the North American market with significant volume increases in Drake and Tehachapi.
- Ready-mix business in Peru recorded a 21.4% growth in volumes due to ongoing infrastructure projects.
- Higher average prices and fuel cost efficiencies resulted in an improved gross margin of 25.7%.
- Peru cement dispatches decreased by 2.8% year-over-year.
- Clinker export through the Conchan terminal was 22.7% lower than the second quarter of 2023.
- UNACEM Ecuador's cement volumes declined by 2.8% year-over-year.
- Consolidated net debt increased to PEN5.3 billion, with a net debt-to-EBITDA ratio of 3.47x, above the 3x target.
- Higher financial expenses and income taxes impacted net profit, which was PEN47 million for the quarter.
Greetings, and welcome to the Grupo UNACEM second-quarter 2024 conference call. (Operator Instructions) As a reminder, this call is being recorded. I would now like to turn the call over to Monica Paucar, Investor Relations. Thank you, Monica. You may begin.
Thank you, Paul. Good morning, everyone, and welcome to our earnings conference call. This morning, our CEO, Pedro Lerner, will discuss the latest developments that affected our operations during second quarter of the year. Later on, Alvaro Morales, UNACEM's corporate CFO, will present the second quarter financials in detail. Also joining us today are Alicia Campos, our Chief Strategy Officer; and Julia Sobrevilla, our Corporate Affairs and Publishing Director.
Please note that we might disclose some forward-looking statements related to Grupo UNACEM based on currently known facts, expectations and forecasts, circumstances and actions regarding future events. Many factors could cause the future results performance or achievements of Grupo UNACEM to
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